For Medpace – which also works in clinical development, testing and imaging for drugs and biologics – this is the second purchase in the device arena
in the past two years after its takeover of Symbios.

It also follows a recent private equity investment
from CCMP under which the group paid around $600m (€428m) for 80 per cent of the privately-owned Cincinnati, Ohio’s shares.

At the time Medpace CEO August Troendle said: “The transaction will provide resources to make the strategic long-term investments that are needed to advance our leadership position, grow the core the business and expand our global reach.”

Of the reason for the recent expansion in the device area particularly, Troendle said the deal supports growth plans in general.

“MediTech is well respected in both Europe and the US and this strategic acquisition fully supports Medpace's growth and provides our sponsors a wide range of regulatory and clinical expertise across North America and Europe along with expanded operational capacity."

When Outsourcing-Pharma.com contacted Miditech president and CEO Carla Kikken-Jussen, she refused to comment.

Neither firm revealed whether any restructuring would take place, however a press statement did say: “Ms. Kikken-Jussen will continue to lead MediTech with her team members.”

This content is copyright protected

However, if you would like to share the information in this article, you may use the headline, summary and link below: